Electrum Bitcoin Wallet – Secure Mobile & Desktop Crypto Storage?

Electrum is a popular bitcoin wallet that features a simple, lightweight interface. Find out how this wallet works today in our Electrum Bitcoin Wallet review.

What is Electrum Bitcoin Wallet?

Electrum, found online at Electrum.org, has been a popular bitcoin wallet since launching in November 2011. The encrypted wallet protects your bitcoins behind a password and features surprisingly simple code, written in Python. That code is available open source to the public.

Today, you can download Electrum for a wide range of platforms. It’s available for free for Linux, Windows, Mac OS X, and Android. You can download it from the Google Play Store for Android, or visit Electrum.org to download easy installation executables for all other versions.

How to Use Electrum Bitcoin Wallet

After installing Electrum from the sources above, you let the software gather configuration data through a wizard. The wizard will ask if you want to create a new wallet, for example, or you want to restore an existing wallet from a seed. You can also create a watching-only version of an existing wallet.

From the next window, you’ll see a “Wallet Generation Seed”, which is a 12 word phrase that you’ll need to memorize in order. This seed allow you to recover your wallet in case your device is lost, stole, or destroyed. You’ll also see your QR code at this page.

Then, setup a password. Or, leave the password fields black if you want to disable encryption.

You can also configure Electrum to run using a custom server.

Receiving a Payment with Electrum

You can transfer funds into your Electrum wallet through one of your receiving addresses. To locate a receiving address, first click on the “Receive” tab. Double click the first “Receiving” address, then copy it to the clipboard. Next, transfer funds from your current wallet (or exchange, or wherever your bitcoins are hosted). Then, paste your Electrum receiving address into the field marked “Receiving bitcoin address”. Choose the amount you wish to transfer, then send it.

You can view pending transactions under the Electrum “History” tab.

To make a payment, you repeat the process from the Electrum side. You click the “Send” tab, then enter a bitcoin address in the “Pay to” field. You can enter the address automatically or paste it from the clipboard.

Who Created Electrum Bitcoin Wallet?

Electrum was created by Thomas Voegtlin in November 2011. Since then, various developers have contributed to the Electrum source code. Additional developers with Github write access include Maran Hidskes, Michael Wozniak, and EagleTM.

Electrum Bitcoin Wallet Conclusion

Electrum has been a popular bitcoin wallet for years. Launched in 2011, the no-nonsense wallet features all of the things you need in a basic bitcoin wallet, including multi-signature support, local transaction signatures, and an easy-to-use interface. You can use it as part of a cold storage setup to securely lock your bitcoins. Or, use it for daily spending and receiving. You can download Electrum today from Electrum.org.

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